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Dams Holdings Limited
Registered number: 10049656
Annual report and
consolidated financial statements
For the period ended 30 September 2025
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DAMS HOLDINGS LIMITED
COMPANY INFORMATION
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Chartered Accountants & Statutory Auditor
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DAMS HOLDINGS LIMITED
CONTENTS
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Independent Auditor's Report
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Consolidated Statement of Comprehensive Income
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Consolidated Statement of Financial Position
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Company Statement of Financial Position
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Consolidated Statement of Changes in Equity
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Company Statement of Changes in Equity
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Consolidated Statement of Cash Flows
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Notes to the Financial Statements
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DAMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
The directors present the Strategic Report for the period ended 30 September 2025.
The principal activity of the Company is that of a holding company.
The principal activity of the Group is the manufacture and wholesale of office and other furniture.
The Group retains its absolute focus on positioning itself as the default provider of office furniture in the UK and has again made significant progress in this its sixteenth year.
Customer focus remains a core value of the Group, underpinning its commitment to building and sustaining strong relationships across all business segments, including dealer networks, national resellers, and public sector clients. Recognising that each segment has distinct product, service, and marketing needs, the Group continually reviews and enhances its product portfolio and service offering to deliver tailored solutions.
To stay ahead of market trends and evolving demands, the Group actively engages with both customers and suppliers, introducing innovative products and improved services in response to feedback and industry developments.
During the year, the Group strengthened its management team through a combination of new appointments and internal promotions. This approach ensures that skills, systems, and processes are effectively managed across all areas, enabling optimal use of infrastructure and talent. In addition, production, distribution, and operational processes are regularly reviewed to drive efficiency and continuous improvement.
Principal risks and uncertainties
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The Group faces financial risks from US Dollar exchange rate fluctuations and global shipping cost volatility, affecting the cost of imported goods and materials. These risks are managed through regular reviews of hedging strategies and freight agreements.
Global and domestic economic conditions continue to be shaped by geopolitical tensions, including the ongoing Russia–Ukraine conflict and instability in the Middle East, alongside persistent inflationary pressures, elevated interest rates, and rising living costs. These factors influence and shape the office furniture market. Purchase and overhead costs are tightly monitored and controlled.
The Group faces a risk posed by low cost and low quality imported products competing for market share.
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DAMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
Employee, Social and Community Matters
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DAMS Furniture Limited is an Equal Opportunities Employer, committed to ensuring fair and equitable treatment for all applicants and employees, regardless of race, ethnicity, nationality, religion, gender, marital status, disability, or age.
The Group maintains good health and safety standards and during the year successfully retained its certification for ISO45001:2018 (Health & Safety Management System) and achieved Elite membership status for the Contractors Health & Safety Assessment Scheme (CHAS), the company ensures compliance throughout its operation.
Security procedures and controls were strengthened during the year through the successful upgrade to ISO 27001:2022 (Information Security Management System), with accreditation achieved in June. This enhanced certification complements the continued retention of Cyber Essentials Plus, which was renewed for another year.
The Group has successfully retained certification for both ISO9001:2015 (Quality Management System) and ISO14001:2015 (Environmental Management System): International recognised standards that ensure products and services meet the needs of customers through and effective quality management system and protecting the environment.
The Group is committed to high standards of Environmental, Social and Governance (ESG) and was awarded Silver Medal sustainability rating following a detailed Ecovadis assessment.
The Group is committed to supporting government Net Zero targets, detailed in its Carbon Reduction Plan actioned by the Group's ‘Green Team’ committee (with members from across the business). Whilst maintaining compliance with reporting emissions under Scope 1 and 2, the team made significant progress towards the voluntary reporting for Scope 3 emissions; to increase awareness of energy costs and emissions, with a view to adopting further energy efficiency measures aiming to reduce their impact on climate change.
As an ethical and conscientious furniture manufacturer, the Group recognises its responsibility to the environment and reducing its impact on it. Re.think sustainable solutions is a sustainability initiative designed to deliver continuous improvement in our environmental impact.
During the year, re.think initiative saved over 122,500 kgCO2e in furniture recycling and almost 3,000 kgCO2e in packaging savings. Investments were made into efficient waste segregation facilities and energy efficient heating systems.
The DAMS Charity Committee continues to run activities, projects and fundraising to support the local community through partnerships with local charities, including Clatterbridge Cancer Charity.
Turnover for the year was £59,219,548 (2024 :£60,821,679).
Annual and periodically updated budgets reflected changes in market conditions, investing activities and budgetary changes, including employment costs and taxes which increased significantly during the year. All costs, including material costs and overheads were tightly managed against budget throughout the year.
Net profit before tax for the year was £2,971,934 (2024: £4,844,153).
Further investments were made into the Group’s infrastructure (people, systems, machinery and distribution network) during the year as part of its program of continual investment. During the year the Group strengthened its sales capability by introducing experienced leadership into the team. This enhancement is designed to improve customer engagement and support sustainable growth through stronger relationships and a more responsive approach to market needs.
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DAMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
The Group continued to expand and upgrade its ERP system throughout the year, leveraging technology solutions to improve efficiencies and service. New machinery purchased during the year further enhance the Group’s product portfolio and production quality. In addition, a major refurbishment of the Gores Road offices and showroom commenced, positioning the business to deliver an enhanced customer experience and support future growth when completed in 2026. These initiatives reflect the Group’s commitment to innovation, operational excellence, and long-term market leadership.
Key Performance Indicators
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The Group monitors a range of key performance indicators, both financial and non-financial on a regular basis.
Financial Key Performance Indicators
We believe that the key financial performance indicator that communicates the financial performance and strength of the Group is EBITDA v Gross Sales.
EBITDA v Gross Sales for the year was 9.5% (2024: 12.5%). The directors are pleased with the performance of the Group overall and that the Group continues to be in a strong financial position, in line with expectation.
Other Key Performance Indicators
The Group regularly reviews and optimises its stock levels to ensure the portfolio remains appropriately balanced. The management team continuously monitors inventory profiles and makes adjustments as needed to maintain service standards and meet lead time commitments.
Service and distribution targets are monitored and improvements were made during the year.
Directors' statement of compliance with duty to promote the success of the Group
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The board of directors of Dams Holdings Limited consider that both individually and together for the period ended 30 September 2025 they have acted in the way they consider, in good faith, would be the most likely to promote the success of the Group for the benefit of its members as a whole and having regard to the matters set out in below:
∙The likely consequences of any decision in the long term;
∙The interests of the Group’s employees;
∙The need to foster the Group’s business relationships with suppliers, customers, and others;
∙The impact of the Group's operations on the community and environment;
∙The desirability of the Group maintaining for high standards of business conduct; and
∙The need to act fairly between members of the Group.
The directors make decisions by taking their legal duty into account and also the priorities and requirements of the stakeholders.
The likely consequences of any decision in the long term
The directors are mindful that its strategic decisions can have long term implications for the business and its stakeholders and these implications are carefully assessed. As part of the long term business planning process, budgets and capital investment are aligned to the overall business strategy, during this process the directors review the risks and opportunities to make informed decisions in line with our core values.
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DAMS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
The interests of the Group’s employees
The Group benefits from having a Board of Directors who are actively involved in the daily running of the business. The directors use various methods of communication with workforce, including regular business updates and newsletters. Communication routes are clear, employees’ suggestions, views and interests are carefully gathered and considered in decision making.
The need to foster the Group’s business relationships with suppliers, customers, and others
A positive customer experience is at the forefront of everything we do. We work closely with our loyal customers to best understand their product and service requirements. We carry out our business with similar-minded people and build on this to forge strong and lasting partnerships which is important to our long-term success.
The impact of the Group’s operations on the community and environment
We are proud to be part of the local and wider communities. It is our aim to create opportunities to recruit and develop local people and to understand the local issues that are important to the community and what we can do to support it. The DAMS Charity Committee work to pool resources and fundraise for selected charities.
During the year, the Group successfully retained its ISO14001:2015 (Environmental Management System) accreditation. The directors are committed to minimising the Group’s environmental impact and has a number of initiatives to reduce its carbon footprint over the coming years.
The desirability of the Group maintaining a reputation for high standards of business conduct
All new employees receive a ‘new starter pack’ including an Employee Handbook which documents our history, standards, equal opportunities and details what we expect from them as an employee of DAMS, and what they should expect from DAMS as an employer. The Employee Handbook is refreshed and communicated to all employees annually. All employees have access to our Operating Procedures and Codes of Conduct and understand the requirement for them to comply with the Group’s high standards of business conduct at all times. Our management team are trained to deal discretely with any issues of non-compliance with any of our policies.
The need to act fairly between members of the Group
The Group aims to act with integrity and courtesy in all of its business relationship and will consider all members and stakeholders when making decisions for the overall good of the Group.
This report was approved by the board on 30 April 2026 and signed on its behalf.
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DAMS HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
The directors present their report and the financial statements for the period ended 30 September 2025.
Directors' responsibilities statement
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The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the period, after taxation, amounted to £1,894,411 (2024 - £3,578,601).
Dividends paid during the year totalled £1,801,960 (2024 - £2,191,960).
The directors who served during the period were:
The Group continues to enhance and expand its product portfolio and service offer in line with market trends. The program of continuous review, improvement and enhancement of the Group’s infrastructure continues, with further investments planned for the coming year.
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DAMS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the Group for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the Group to continue as a going concern.
Accordingly the directors have a reasonable expectation that the Group will continue in operational existence and thus they adopt the going concern basis of accounting in preparing the financial statements.
The Group has a commitment to providing opportunities and the correct working environment for disabled employees.
Greenhouse gas emissions, energy consumption and energy efficiency action
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The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 (the 2019 Regulations) implement the government’s policy on Streamlined Energy and Carbon Reporting (SECR). The regulation came into effect on 1 April 2019 and the Company is required to report on the emissions and energy consumption for this period to 27 September 2020 to coincide with the financial reporting period.
The figures below cover Dams Holdings Limited and its subsidiary's energy consumption for scope 2 energy and scope 1 natural gas and fuel consumed in relation to the Company’s UK premises. Average emissions per unit produced for the year are shown below, and the Company aims to lower this where possible.
Dams Holdings Limited and its subsidiary holds certification to show compliance to ISO standard 50001:2018 and are annually audited by an independent body to verify continued conformity. There are robust Environmental Management Systems in place and are committed to improving environmental performance. This is accomplished by reducing carbon footprint and energy consumption, alongside increasing recycling capacity, and limiting waste going to landfill. The Company’s environmental goals are set and achieved by continuous improvement of manufacturing processes and management of the supply chain.
Matters covered in the Group Strategic Report
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Certain information not shown in the Directors' Report is shown in the Strategic Report on pages 1 & 2 instead in accordance with Section 414C(11) of the Companies Act 2006. This includes a business review, principal risks and uncertainties and engagement with suppliers, customers and other stakeholders.
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DAMS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
Disclosure of information to auditor
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Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and
∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.
Post balance sheet events
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There have been no other significant events affecting the Group since the period end.
The auditor, Forvis Mazars LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 30 April 2026 and signed on its behalf.
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DAMS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DAMS HOLDINGS LIMITED
Opinion
We have audited the financial statements of Dams Holdings Limited (the ‘Parent Company’) and its subsidiaries (the ‘Group’) for the year ended 30 September 2025 which comprise the Consolidated Statement of Comprehensive Income, the Consolidated and Company Statements of Financial Position, the Consolidated and Company Statements of Changes in Equity, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
∙give a true and fair view of the state of the Parent Company’s affairs as at 30 September 2025 and of the Group's profit for the period then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the “Auditor’s responsibilities for the audit of the financial statements” section of our report. We are independent of the group and the parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's and the Parent Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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DAMS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DAMS HOLDINGS LIMITED
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the Group and Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
∙the Parent Company financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
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DAMS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DAMS HOLDINGS LIMITED
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Group's and Parent Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors intend either to liquidate the Group or Parent Company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the Group and the Parent Company and their industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation and anti-money laundering regulation.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
∙Inquiring of management and, where appropriate, those charged with governance, as to whether the Group and the Parent Company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
∙Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
∙Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
∙Considering the risk of acts by the Group and the Parent Company which were contrary to applicable laws and regulations, including fraud.
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DAMS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DAMS HOLDINGS LIMITED
We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation and the Companies Act 2006.
In addition, we evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition (which we pinpointed to the cut off assertion) and significant one-off or unusual transactions.
Our audit procedures in relation to fraud included but were not limited to:
∙Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
∙Gaining an understanding of the internal controls established to mitigate risks related to fraud;
∙Discussing amongst the engagement team the risks of fraud; and
∙Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of the audit report
This report is made solely to the Company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body for our audit work, for this report, or for the opinions we have formed.
Neil Barton (Senior Statutory Auditor)
for and on behalf of Forvis Mazars LLP
Chartered Accountants and Statutory Auditor
One St. Peter's Square
Manchester
M2 3DE
30 April 2026
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DAMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Interest receivable and similar income
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Interest payable and similar expenses
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Profit for the financial period
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There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
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There was no other comprehensive income for 2025 (2024: £NIL).
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The notes on pages 19 to 40 form part of these financial statements.
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DAMS HOLDINGS LIMITED
REGISTERED NUMBER: 10049656
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2026.
The notes on pages 19 to 40 form part of these financial statements.
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DAMS HOLDINGS LIMITED
REGISTERED NUMBER: 10049656
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the Company for the year was £1,801,960 (2024: £2,191,960).
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2026.
The notes on pages 19 to 40 form part of these financial statements.
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DAMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to owners
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Dividends: Equity capital
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Total transactions with owners
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Comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to owners
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Dividends: Equity capital
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Total transactions with owners
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The notes on pages 19 to 40 form part of these financial statements.
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DAMS HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to owners
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Dividends: Equity capital
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Total transactions with owners
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Comprehensive income for the period
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Total comprehensive income for the period
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|
Contributions by and distributions to owners
|
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|
Dividends: Equity capital
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Total transactions with owners
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The notes on pages 19 to 40 form part of these financial statements.
|
- 16 -
|
|
DAMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
Cash flows from operating activities
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Profit for the financial period
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Amortisation of intangible assets
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Depreciation of tangible assets
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Loss on disposal of tangible assets
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(Increase)/decrease in stocks
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(Increase)/decrease in debtors
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Increase/(decrease) in creditors
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Fair value movement of derivatives
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Net cash generated from operating activities
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Cash flows used in investing activities
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Purchase of intangible fixed assets
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Sale of intangible assets
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|
Purchase of tangible fixed assets
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Sale of tangible fixed assets
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Net cash used in investing activities
|
|
|
- 17 -
|
|
DAMS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Cash flows used in financing activities
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Repayment of/new finance leases
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Net cash used in financing activities
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Net increase in cash and cash equivalents
|
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Cash and cash equivalents at beginning of period
|
|
|
Cash and cash equivalents at the end of period
|
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|
Cash and cash equivalents at the end of period comprise:
|
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- 18 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
Dams Holdings Limited ("the Company") is a private company limited by shares incorporated in the United Kingdom registered in England and Wales with registration number 10049656. The address of its registered office and principal place of business is Charleywood Road, Knowsley Industrial Park, Knowsley, Liverpool, L33 7SG.
The principal activity of the Group is the manufacture and wholesale of office and other furniture.
2.Accounting policies
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Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Consolidated statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
|
|
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The financial reporting standard 102 - reduced disclosure exemptions
|
The Parent Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
- 19 -
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|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the Group for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the Group to continue as a going concern.
Accordingly the directors have a reasonable expectation that the Group will continue in operational existence and thus they adopt the going concern basis of accounting in preparing the financial statements.
|
|
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Foreign currency translation
|
Functional and presentation currency
These financial statements have been presented in pound sterling which is the functional currency of the Company, and rounded to the nearest £.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Group has transferred the significant risks and rewards of ownership to the buyer;
∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Group will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
- 20 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
|
|
|
Operating leases: the Group as lessee
|
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.
- 21 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
|
|
|
Current and deferred taxation
|
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company and the Group operate and generate income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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Website & computer software
|
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|
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|
- 22 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods:.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Land is held within land and buildings with a value of £200,000 that will not be depreciated.
Investments in subsidiaries are measured at cost less accumulated impairment.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Consolidated statement of comprehensive income.
Short term debtors are measured at transaction price, less any impairment.
- 23 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
|
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|
|
|
Provisions for liabilities
|
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Group's Statement of Financial Position when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
- 24 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
|
|
|
Financial instruments (continued)
|
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
- 25 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
|
|
|
Financial instruments (continued)
|
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
- 26 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
|
|
Judgments in applying accounting policies and key sources of estimation uncertainty
|
In applying the Group’s accounting policies, the directors are required to make judgments, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgments, estimates and assumptions are based on the most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgments, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
Critical judgments in applying the accounting policies
The critical judgments that the directors have made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements are discussed below:
(i) Assessing indicators of impairment
In assessing whether there have been any indicators of impairment associated with intangible assets and property, plant and equipment, the directors have considered both external and internal sources of information such as market values, changes in technological, economic and legal environments and economic performance.
Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:
(i) Determining residual values and useful economic lives of plant and equipment
The Group depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.
Judgment is applied by management when determining the residual values for plant, machinery and equipment. When determining the residual value management aim to assess the amount that the Group would currently obtain for the disposal of the asset, if it were already of the condition expected.
(ii) Recoverability of receivables
The Group establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors have considered factors such as the aging of receivables, past experience of recoverability, and the credit profile of individual or groups of customers.
(iii) Stock provisions
Judgment is also applied when determining an appropriate provision against the value of stock. When considering if a provision should be made against the items of stock the directors consider factors such as the aging of stock, recent stock movements and the likelihood of future demand for that item.
- 27 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
The whole of the turnover is attributable to the Group's principal activity being the production and sale of furniture.
Analysis of turnover by country of destination:
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|
The operating profit is stated after charging:
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Research & development charged as an expense
|
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|
Other operating lease rentals
|
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|
|
Defined contribution pension cost
|
|
|
|
|
Depreciation of tangible fixed assets
|
|
|
|
|
Amortisation of intangible assets, including goodwill
|
|
|
|
|
Loss on disposal of tangible fixed assets
|
|
|
- 28 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
|
|
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|
|
During the period, the Group obtained the following services from the Group's auditor:
|
|
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|
|
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|
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|
|
|
|
|
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|
|
Fees payable to the Group's auditor for the audit of the Group's financial statements
|
|
|
|
|
Fees payable to the Group's auditor in respect of:
|
|
|
|
|
Preparation of financial statements and iXBRL tagging services
|
|
|
|
|
Taxation compliance services
|
|
|
|
|
|
|
|
Staff costs, including directors' remuneration, were as follows:
|
|
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|
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|
Cost of defined contribution scheme
|
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|
|
|
|
|
|
|
|
|
|
|
|
The average monthly number of employees, including the directors, during the period was as follows:
|
- 29 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
|
|
|
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|
|
|
Group contributions to defined contribution pension schemes
|
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|
Interest receivable and similar income
|
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|
Other interest receivable
|
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|
Interest payable and similar expenses
|
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Other loan interest payable
|
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|
|
Finance leases and hire purchase contracts
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
Current tax on profits for the year
|
|
|
|
|
Adjustments in respect of previous periods
|
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|
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|
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|
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Origination and reversal of timing differences
|
|
|
|
|
Adjustments in respect of prior periods
|
|
|
|
|
|
|
|
- 30 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
11.Taxation (continued)
|
|
Factors affecting tax charge for the period
|
|
|
The tax assessed for the period is higher than (2024 - higher than) the standard rate of corporation tax in the UK of25% (2024 -25%). The differences are explained below:
|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
Profit on ordinary activities before tax
|
|
|
|
|
Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
|
|
|
|
|
|
|
|
|
|
Non-tax deductible amortisation of goodwill and impairment
|
|
|
|
|
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
|
|
|
|
|
|
|
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|
|
Adjustments to tax charge in respect of prior periods
|
|
|
|
|
Adjustment to tax charge in respect of prior periods - deferred tax
|
|
|
|
|
Adjustments to brought forward values
|
|
|
|
|
Total tax charge for the period
|
|
|
- 31 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
11.Taxation (continued)
|
|
Factors that may affect future tax charges
|
There were no factors that may affect future tax charges.
- 32 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
|
|
|
Website & Computer Software
|
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- 33 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
|
|
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|
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|
|
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|
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|
|
The depreciation charge in the period on assets under hire purchase agreements totalled £502,872 (2024: £447,350).
Land is held within Land and buildings with a value of £200,000 that will not be depreciated.
- 34 -
|
|
DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
|
|
Investments in subsidiary companies
|
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The following were subsidiary undertakings of the company:
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Gores Road, Knowsley, Liverpool, L33 7XS
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Rethink Sustainable Solutions Ltd
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Gores Road, Knowsley, Liverpool, L33 7XS
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Raw materials and consumables
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Work in progress (goods to be sold)
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Finished goods and goods for resale
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Stock recognised in cost of sales during the year as an expense was £25,903,441 (2024 - £26,612,307).
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- 35 -
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DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The hire purchase creditor is secured over the assets to which it relates.
Other creditors included currency revaluation provision, payroll control and goods received not invoiced as at the year end.
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- 36 -
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DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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The hire purchase creditor is secured over the assets to which it relates.
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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Cash and cash equivalents
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Financial assets that are debt instruments measured at amortised cost
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Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio
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Financial liabilities measured at amortised cost
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Financial assets that are debt instruments measured at amortised cost comprise trade and other debtors excluding prepayments.
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Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio comprise foreign exchange contracts.
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Financial liabilities measured at amortised cost comprise trade and other creditors, obligations under finance leases and hire purchase contracts and accruals, excluding amounts relating to corporation tax and other taxation and social security.
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- 37 -
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DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Charged to the profit or loss
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The provision for deferred taxation is made up as follows:
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Fixed asset timing differences
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Short term timing differences
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Allotted, called up and fully paid
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34,000 (2024 - 34,000) Ordinary A shares of £0.01 each
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33,000 (2024 - 33,000) Ordinary B shares of £0.01 each
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33,000 (2024 - 33,000) Ordinary C shares of £0.01 each
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All shares rank pari passu. All shares have full rights to voting, dividend and capital distribution (including on winding up) and are not redeemable.
The directors have granted certain employees options over the shares of the Company that vest in the event of an exit.
- 38 -
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DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
Share premium account
The share premium account has arisen through premium on share issues, less applicable expenses.
Profit & loss account
This reserve represents cumulative profits and losses less dividends paid.
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £255,942 (2024: £234,467). Contributions totalling £9,864 (2024: £8,435) were payable to the fund at the balance sheet date.
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Commitments under operating leases
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At 30 September 2025 the Group had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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The Company had no commitments under the non-cancellable operating leases as at the balance sheet date.
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- 39 -
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DAMS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2025
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Related party transactions
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The Group has taken the exemption permitted by Section 33 Related Party Disclosures, not to disclose transactions made with other wholly owned group companies of Dams Holdings Limited.
Dividends totalling £1,801,960 were paid to the shareholders in the year (2024: £2,191,960).
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Post balance sheet events
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There have been no other significant events affecting the Group since the period end.
There is no single ultimate controlling party, the Group is under the control of its directors.
- 40 -
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